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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
−11.90%
3d Period Avg+3.32%
swing±6.80%
LONG Hyperliquid · now
+6.64%
3d avg:+2.67%
SHORT Lighter Robinhood · nowBTC-USDG
−5.26%
3d avg:+5.99%
Entry Spread Now
−0.044%
Against youL ask 82,369 · S bid 82,332.8−$4.39 at entry
24h range −0.08%…+0.09% · median −0.01%
Long pays every1hShort pays every1h
LONGmaker0.015%/taker0.045%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$7.47
−0.07%
$Avg Daily PnL
+$0.91
+0.0091%
★Best Day
+$1.71
Oct 11
◎Open Interest
Hyperliquid$3.13B
Lighter Robinhood$18.17M⚡Funding APR
+3.32%
annualized · funding only
⚠Execution Cost
−$10.20
entry + exit fees
⏱Payback
11.2d
to break even
◧24h Volume
Hyperliquid$2.78BLighter Robinhood$113.88MLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + live L2 orderbook slippage on both legs (−$10.20 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.